Reitar Logtech Holdings Limited (NASDAQ:RITR) shares barely made their way into positive country Friday. Asia’s leading integrated Property + Logistics Technology (PLT) solutions platform announced at the “Reitar Global Food Supply Chain Ecological Seminar”, a strategic partnership with China’s top casual catering supply chain provider, Hangzhou Xianmu Technology Co., Ltd.
Xianmu delivers one-stop smart supply chain solutions for the casual catering market, covering more than 120 major cities and benefiting over 300,000 restaurant clients. Its founder, Jiang Tao, along with several co-founders, has previously worked at Alibaba, possessing rich experience in supply chain and digital transformation, leading Xianmu to successfully complete multiple rounds of financing and technological innovation.
Through this collaboration, both parties are joining forces to jointly create a global tokenized smart supply chain ecosystem for casual catering, ushering in a new era of digital finance for the industry.
According to the agreement, Reitar and Xianmu will set up a joint venture for Hong Kong and overseas markets. By combining Reitar’s global logistics ecosystem platform, smart cold chain facilities and blockchain RWA (Real World Asset) tokenization with Xianmu’s advanced digital procurement platform and supply chain management, the partnership will accelerate a full-scale digital, financial, and global transformation for casual catering supply chains, aiming to establish the world’s first “AI-driven Smart Catering Supply Chain Platform.”
RITR shares cleared breakeven by 0.6 cents to $1.96.
Tech Insider
